I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
ALAN GREENSPANGiven our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
More Alan Greenspan Quotes
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Rules cannot take the place of character.
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History cannot be reduced to a set of statistics and probabilities.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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The Iraq War is largely about oil.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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These days, even out of office, I still read economic reports.
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If you think you understand what I am saying you do not understand what I am saying.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN